Whales Buy PEPE Coin Despite Price Drop
Release: 2024/08/15 23:59 Reading: 474
Whales Buy PEPE Coin Amid Price Decline
Despite a recent drop in PEPE coin's price, whales and investors are showing signs of optimism. The price declined by 4.24% in the last 24 hours, reaching $0.000007964.
Technical Analysis
The downtrend is indicated by a break in the symmetrical triangle on the price chart. The price sits below both the 50-day and 200-day EMAs, reinforcing the downward trend. Support could be found at $0.00000700, with the recent low at $0.00000600.
The MACD indicator signals a downtrend with increasing momentum.
Whale Activity
IntoTheBlock reports a significant rise in whale activity, with a 192% increase in large address transactions between August 13-14. This suggests bullish sentiment.
Coinglass data shows a negative PEPE Spot net flow on August 14. However, yesterday's $1.27 million positive net flow compared to the previous day indicates whale accumulation at lower prices.
Whale orders worth $2.6 million at $0.00000579 and $0.00000670 reflect a desire to acquire PEPE at lower levels, suggesting a potential price increase.
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